It will purchase the remaining Lewis Road shares it does not own after progressively increasing its stake since 2017.
Lewis Road founder Peter Cullinane will step down.
Under new ownership further development of Lewis Road will be in exported products like the premium butter now sold in Whole Foods stores in the United States and Woolworths in Australia.
Exporting has been part of the business model for 18 months and represents 15% of turnover currently.
The export butter is produced from milk from Southern Pastures cows, which are grass-fed and ethically farmed.
Further processing for Lewis Road is done by Green Valley Dairies at Mangatawhiri, north Waikato and by the Organic Dairy Hub in Hamilton.
Southern Pastures executive chair Prem Mann says Cullinane had created an amazing brand and his company was proud to take the opportunity to build the best premium dairy products from New Zealand.
“We’re convinced that farming can be a powerful tool for environmental good in addition to providing economic returns,” he said.
“We have a long-term vision to produce carbon-neutral dairy in NZ and we see Lewis Road Creamery as part of that grass-to-glass journey.”
Cullinane says Lewis Road began on his kitchen table in 2012 and to see the brand safely in the hands of investors who are farmers of such integrity was a great conclusion for him.
General manager Nicola O’Rourke will continue to manage Lewis Road, with its 24 employees.
Mann also announced that Southern Pastures had earlier this year taken full ownership
of NZ Grass Fed Milk Products, previously a joint venture with Westland Milk Company.
